Climate Change Data

Interra Resources Limited

Climate Impact & Sustainability Data (2021, 2022)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:8,588.2 tCO2e
Carbon Intensity:14.6 kgCO2e per barrel of oil production

ESG Focus Areas

  • Sustainable Development
  • Environmental Stewardship
  • Health and Safety
  • Community

Environmental Achievements

  • Achieved zero spills and regulatory compliance incidents in Myanmar
  • Maintained carbon footprint per barrel of oil production at 14.6 kgCO2e (from 14.2 kgCO2e in 2018 baseline)

Social Achievements

  • Achieved zero safety incidents in Myanmar
  • Invested US$103,000 in Chauk and Yenangyaung communities

Governance Achievements

  • No incidents of corruption or anti-competitive behavior reported

Climate Goals & Targets

Medium-term Goals:
  • Improve crude oil production progressively over the new contract period ending in 2028
Short-term Goals:
  • Fully restore well production and bring production level to pre-suspension volumes

Environmental Challenges

  • Myanmar field operations suspended for two months (Feb-Apr 2021) due to civil disobedience movement, resulting in zero production during that period
  • Tedious and slow process of re-establishing production after the suspension
Mitigation Strategies
  • Methodical re-activation of wells
  • Workovers and additional perforations in existing wells resumed to pre-suspension levels
  • Waterflood projects restarted
  • Refresher training for employees to facilitate resumption of field operations

Supply Chain Management

Responsible Procurement
  • All suppliers and contractors must adhere to our requirements regarding safety, health, security and the environment, as well as the principles of our Standards of Business Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core Option, Sustainability Reporting Guide in Practice Note 7.6 of the Singapore Exchange Securities Trading Limited (SGX-ST) Listing Manual

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:13,073 tCO2e
Scope 1 Emissions:4,015.4 tCO2e
Scope 2 Emissions:9,038.9 tCO2e
Scope 3 Emissions:18.2 tCO2e
Renewable Energy Share:Not disclosed
Total Energy Consumption:13,391 MWh
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:15.3 kgCO2e/BO

ESG Focus Areas

  • Sustainable Development
  • Environmental Stewardship
  • Health and Safety
  • Community

Environmental Achievements

  • Achieved zero spills and regulatory compliance incidents in Myanmar

Social Achievements

  • Achieved zero safety incidents in Myanmar
  • 98% of Goldpetrol’s employees are from the local communities and 50% of the management personnel are employed from the local communities
  • In FY2022, payments made to the local suppliers amounted to US$3,234,000.

Governance Achievements

  • No reports or concerns received through whistleblowing channels in FY2022

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Maintain carbon footprint per barrel of oil production (from FY2018 baseline) over the course of the new contract period ending 2028

Environmental Challenges

  • Increased disclosure and compliance requirements on climate-related matters
  • Increased frequency and intensity of extreme heat events
  • Increased frequency and intensity of extreme precipitation events
  • Rising shift to renewable sources of energy
  • Operational disruptions brought about by political developments in Myanmar in February 2021
Mitigation Strategies
  • Closely monitor stakeholder expectations and comply with new legislative and regulatory requirements; manage operating and compliance costs through efficient resource deployment.
  • Implement health and safety protocols for extreme heat events; monitor weather patterns and adjust workflows; utilize preventive and condition-based maintenance for equipment.
  • Develop contingency plans for flooding; initiate partnerships with local government; develop health and safety protocols for flooding.
  • Closely monitor the global transition to a low-carbon economy and the demand for crude oil; explore opportunities to diversify the business.
  • Fully reactivated producing wells; oil production has recovered to the FY2017 baseline level.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • All our suppliers and contractors are to adhere to our requirements regarding safety, health, security and the environment, as well as the principles of our Standards of Business Conduct.

Climate-Related Risks & Opportunities

Physical Risks
  • Increased frequency and intensity of extreme heat events
  • Increased frequency and intensity of extreme precipitation events
Transition Risks
  • Increased disclosure and compliance requirements on climate-related matters
  • Rising shift to renewable sources of energy
Opportunities
  • Rising shift to renewable sources of energy (potential for business diversification)

Reporting Standards

Frameworks Used: GRI Standards: Core Option, Sustainability Reporting Guide in Practice Note 7.6 of the Listing Manual, Core ESG Metrics published by Singapore Exchange Securities Trading Limited (SGX-ST), TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Goal 1: No Poverty
  • Goal 3: Good Health and Well-being
  • Goal 8: Decent Work and Economic Growth
  • Goal 13: Climate Action

See section 3.2 Sustainable Development

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed